Treasuries

44 tokenized assets with $9.0B TVL

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Asset	Issuer↕	TVL↓	Price↕	APY↕	Access
USDtb Ethena USDtb	Ethena Labs	$1.1B	$1.00	---	KYC
JTRSY Janus Henderson Anemoy Treasury Fund	Janus Henderson	$1.1B	$1.00	---	KYC
WTGXX WisdomTree Government Money Market Fund	WisdomTree	$936.2M	$1.00	---	KYC
USTB Superstate Short Duration US Government Securities Fund	Superstate	$859.0M	$1.00	---	KYC
USDY Ondo US Dollar Yield	Ondo Finance	$739.6M	$1.00	---	KYC
USD0 Usual USD	Usual	$556.2M	$1.00	---	Open
CUMIU ChinaAMC USD Digital Money Market Fund Class I	ChinaAMC	$546.5M	$1.00	---	KYC
fFRAX Flux FRAX	Flux Finance	$487.1M	$1.00	---	KYC
cUSDCv3 Compound USDC	Compound	$331.3M	$1.00	---	Open
spDAI Spark Dai	Spark Protocol	$293.6M	$1.00	---	Open
OUSG Ondo Short-Term US Government Bond Fund	Ondo Finance	$260.7M	$1.00	---	KYC
sDAI Savings Dai	MakerDAO	$190.0M	$1.00	1.24%	Open
BUIDL BlackRock USD Institutional Digital Liquidity Fund	BlackRock	$160.5M	$1.00	---	KYC
FDIT Fidelity Treasury Digital Fund	Fidelity	$152.8M	$1.00	---	KYC
yXL yXLM Ultra Stellar yXLM	Ultra Stellar	$144.8M	$1.00	---	Open
thBILL Theo Short Duration US Treasury Fund	Theo	$132.1M	$1.00	---	KYC
MORPH-USDC Steakhouse USDC (Morpho)	Morpho	$125.9M	$1.00	---	Open
aDAI Aave DAI	Aave	$122.9M	$1.00	---	Open
MOR MORPH-USDT Steakhouse USDT (Morpho)	Morpho	$118.8M	$1.00	---	Open
USYC Hashnote US Yield Coin	Hashnote	$110.3M	$1.00	---	KYC
BEL BELIF Bosera Digital Liquidity Income Fund	Bosera	$102.1M	$1.00	---	KYC
TBILL OpenEden T-Bill Vault	OpenEden	$79.0M	$1.00	3.29%	KYC
STBT Matrixdock Short-term Treasury Bill Token	Matrixdock	$69.4M	$1.00	---	KYC
USTBL Spiko US T-Bills Money Market Fund	Spiko	$57.2M	$1.00	---	KYC
ULTRA Delta Wellington Ultra Short Treasury On-Chain Fund	Delta Wellington	$52.6M	$1.00	---	KYC
mTBILL Midas TBILL	Midas	$52.4M	$1.00	---	KYC
BENJI Franklin OnChain U.S. Government Money Fund	Franklin Templeton	$47.6M	$1.00	---	KYC
CUMBU ChinaAMC USD Digital Money Market Fund Class B	ChinaAMC	$31.0M	$1.00	---	KYC
MV-ETH Steakhouse ETH (Morpho)	Morpho	$28.2M	$1.00	---	Open
VBILL VanEck Treasury Fund	VanEck	$22.8M	$1.00	---	KYC
bIB01 Backed IB01 $ Treasury Bond 0-1yr	Backed Finance	$5.5M	$1.00	---	KYC
yvUSDC Yearn USDC Vault	Yearn Finance	$5.3M	$1.00	---	Open
USDM Mountain Protocol USD	Mountain Protocol	$1.3M	$1.00	---	KYC
nTBILL Nest Treasury Vault	Nest/Plume	$653.9K	$1.00	---	KYC
stUSD Staked USDA	Angle Protocol	$508.4K	$1.00	---	Open
USD USD+.b Overnight USD+ (Base)	Overnight Finance	$244.8K	$1.00	---	KYC
bIBTA Backed IBTA $ Treasury Bond 1-3yr	Backed Finance	$118.0K	$1.00	---	KYC
fDAI Flux DAI	Flux Finance	$28.3K	$1.00	---	KYC
FIUSD Fidelity ILF USD Fund Class G	Sygnum Bank	$2.4K	$1.00	---	KYC
sUSDe Ethena Staked USDe	Ethena Labs	$0.00	---	---	Open
sUSDS Sky Dollar Savings	Sky (Maker)	$0.00	---	---	Open
sUSDf Staked Falcon USD	Falcon Finance	$0.00	---	---	Open
sFRAX Staked FRAX	Frax Finance	$0.00	---	---	Open
MOR MORPH-USDC.b Steakhouse USDC (Morpho Base)	Morpho	$0.00	$1.00	---	Open

DeFi Terminal tracks 44 tokenized treasuries assets with $9.0B in total value locked. Tokenized treasuries represent US government debt instruments brought on-chain. These products typically hold short-duration T-bills and offer yields closely tracking the federal funds rate. They provide DeFi users with low-risk, dollar-denominated yield without leaving the blockchain ecosystem. Major issuers include BlackRock (BUIDL), Franklin Templeton (BENJI), Ondo Finance (USDY), and Hashnote (USYC).